19,987 Shares in Monster Beverage Corp (NASDAQ:MNST) Purchased by ETF Managers Group LLC

ETF Managers Group LLC purchased a new position in Monster Beverage Corp (NASDAQ:MNST) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 19,987 shares of the company’s stock, valued at approximately $984,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MNST. BlackRock Inc. boosted its position in shares of Monster Beverage by 1.2% in the third quarter. BlackRock Inc. now owns 24,111,145 shares of the company’s stock worth $1,405,199,000 after buying an additional 279,364 shares during the period. Loomis Sayles & Co. L P boosted its holdings in Monster Beverage by 1.5% in the third quarter. Loomis Sayles & Co. L P now owns 24,002,010 shares of the company’s stock valued at $1,398,837,000 after purchasing an additional 347,332 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Monster Beverage by 47.2% in the third quarter. Alliancebernstein L.P. now owns 12,359,240 shares of the company’s stock valued at $720,297,000 after purchasing an additional 3,961,104 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Monster Beverage by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 3,190,474 shares of the company’s stock valued at $185,941,000 after purchasing an additional 59,507 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Monster Beverage by 3.5% during the third quarter. Legal & General Group Plc now owns 1,989,865 shares of the company’s stock valued at $115,966,000 after buying an additional 67,998 shares in the last quarter. 63.60% of the stock is owned by institutional investors.

NASDAQ MNST traded up $0.91 on Friday, reaching $64.74. 3,848,449 shares of the stock traded hands, compared to its average volume of 2,418,805. The firm has a market cap of $32.32 billion, a P/E ratio of 36.17, a PEG ratio of 1.83 and a beta of 1.53. Monster Beverage Corp has a 12 month low of $47.61 and a 12 month high of $66.38.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Wednesday, February 27th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $924.23 million during the quarter, compared to analyst estimates of $907.75 million. Monster Beverage had a return on equity of 25.47% and a net margin of 25.86%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. On average, analysts predict that Monster Beverage Corp will post 2.04 EPS for the current year.

In other news, Director Harold C. Taber, Jr. sold 9,000 shares of the firm’s stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $54.55, for a total value of $490,950.00. Following the completion of the sale, the director now owns 77,238 shares of the company’s stock, valued at $4,213,332.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas J. Kelly sold 14,661 shares of the firm’s stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $53.73, for a total value of $787,735.53. Following the completion of the sale, the executive vice president now directly owns 24,312 shares of the company’s stock, valued at approximately $1,306,283.76. The disclosure for this sale can be found here. Company insiders own 9.70% of the company’s stock.

Several analysts have issued reports on the company. ValuEngine upgraded Monster Beverage from a “hold” rating to a “buy” rating in a research note on Friday. BMO Capital Markets upped their price objective on Monster Beverage from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday. UBS Group set a $52.00 price objective on Monster Beverage and gave the company a “sell” rating in a research note on Thursday. BidaskClub upgraded Monster Beverage from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Finally, Citigroup reiterated a “buy” rating and set a $72.00 price target on shares of Monster Beverage in a research report on Thursday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $62.83.

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About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.

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